2022-06-012023-05-312023-05-31false01160523PLUMBING AND HEATING COMPANY (NORWICH) LIMITED2024-02-20iso4217:GBPxbrli:pure011605232022-06-01011605232023-05-31011605232022-06-012023-05-31011605232021-06-01011605232022-05-31011605232021-06-012022-05-3101160523bus:SmallEntities2022-06-012023-05-3101160523bus:AuditExempt-NoAccountantsReport2022-06-012023-05-3101160523bus:FullAccounts2022-06-012023-05-3101160523bus:PrivateLimitedCompanyLtd2022-06-012023-05-3101160523core:WithinOneYear2023-05-3101160523core:AfterOneYear2023-05-3101160523core:WithinOneYear2022-05-3101160523core:AfterOneYear2022-05-3101160523core:ShareCapital2023-05-3101160523core:SharePremium2023-05-3101160523core:RevaluationReserve2023-05-3101160523core:OtherReservesSubtotal2023-05-3101160523core:RetainedEarningsAccumulatedLosses2023-05-3101160523core:ShareCapital2022-05-3101160523core:SharePremium2022-05-3101160523core:RevaluationReserve2022-05-3101160523core:OtherReservesSubtotal2022-05-3101160523core:RetainedEarningsAccumulatedLosses2022-05-3101160523core:LandBuildings2023-05-3101160523core:PlantMachinery2023-05-3101160523core:Vehicles2023-05-3101160523core:FurnitureFittings2023-05-3101160523core:OfficeEquipment2023-05-3101160523core:NetGoodwill2023-05-3101160523core:IntangibleAssetsOtherThanGoodwill2023-05-3101160523core:ListedExchangeTraded2023-05-3101160523core:UnlistedNon-exchangeTraded2023-05-3101160523core:LandBuildings2022-05-3101160523core:PlantMachinery2022-05-3101160523core:Vehicles2022-05-3101160523core:FurnitureFittings2022-05-3101160523core:OfficeEquipment2022-05-3101160523core:NetGoodwill2022-05-3101160523core:IntangibleAssetsOtherThanGoodwill2022-05-3101160523core:ListedExchangeTraded2022-05-3101160523core:UnlistedNon-exchangeTraded2022-05-3101160523core:LandBuildings2022-06-012023-05-3101160523core:PlantMachinery2022-06-012023-05-3101160523core:Vehicles2022-06-012023-05-3101160523core:FurnitureFittings2022-06-012023-05-3101160523core:OfficeEquipment2022-06-012023-05-3101160523core:NetGoodwill2022-06-012023-05-3101160523core:IntangibleAssetsOtherThanGoodwill2022-06-012023-05-3101160523core:ListedExchangeTraded2022-06-012023-05-3101160523core:UnlistedNon-exchangeTraded2022-06-012023-05-3101160523core:MoreThanFiveYears2022-06-012023-05-3101160523core:Non-currentFinancialInstruments2023-05-3101160523core:Non-currentFinancialInstruments2022-05-3101160523dpl:CostSales2022-06-012023-05-3101160523dpl:DistributionCosts2022-06-012023-05-3101160523core:LandBuildings2022-06-012023-05-3101160523core:PlantMachinery2022-06-012023-05-3101160523core:Vehicles2022-06-012023-05-3101160523core:FurnitureFittings2022-06-012023-05-3101160523core:OfficeEquipment2022-06-012023-05-3101160523dpl:AdministrativeExpenses2022-06-012023-05-3101160523core:NetGoodwill2022-06-012023-05-3101160523core:IntangibleAssetsOtherThanGoodwill2022-06-012023-05-3101160523dpl:GroupUndertakings2022-06-012023-05-3101160523dpl:ParticipatingInterests2022-06-012023-05-3101160523dpl:GroupUndertakingscore:ListedExchangeTraded2022-06-012023-05-3101160523core:ListedExchangeTraded2022-06-012023-05-3101160523dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-06-012023-05-3101160523core:UnlistedNon-exchangeTraded2022-06-012023-05-3101160523dpl:CostSales2021-06-012022-05-3101160523dpl:DistributionCosts2021-06-012022-05-3101160523core:LandBuildings2021-06-012022-05-3101160523core:PlantMachinery2021-06-012022-05-3101160523core:Vehicles2021-06-012022-05-3101160523core:FurnitureFittings2021-06-012022-05-3101160523core:OfficeEquipment2021-06-012022-05-3101160523dpl:AdministrativeExpenses2021-06-012022-05-3101160523core:NetGoodwill2021-06-012022-05-3101160523core:IntangibleAssetsOtherThanGoodwill2021-06-012022-05-3101160523dpl:GroupUndertakings2021-06-012022-05-3101160523dpl:ParticipatingInterests2021-06-012022-05-3101160523dpl:GroupUndertakingscore:ListedExchangeTraded2021-06-012022-05-3101160523core:ListedExchangeTraded2021-06-012022-05-3101160523dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-06-012022-05-3101160523core:UnlistedNon-exchangeTraded2021-06-012022-05-3101160523core:NetGoodwill2023-05-3101160523core:IntangibleAssetsOtherThanGoodwill2023-05-3101160523core:LandBuildings2023-05-3101160523core:PlantMachinery2023-05-3101160523core:Vehicles2023-05-3101160523core:FurnitureFittings2023-05-3101160523core:OfficeEquipment2023-05-3101160523core:AfterOneYear2023-05-3101160523core:WithinOneYear2023-05-3101160523core:ListedExchangeTraded2023-05-3101160523core:UnlistedNon-exchangeTraded2023-05-3101160523core:ShareCapital2023-05-3101160523core:SharePremium2023-05-3101160523core:RevaluationReserve2023-05-3101160523core:OtherReservesSubtotal2023-05-3101160523core:RetainedEarningsAccumulatedLosses2023-05-3101160523core:NetGoodwill2022-05-3101160523core:IntangibleAssetsOtherThanGoodwill2022-05-3101160523core:LandBuildings2022-05-3101160523core:PlantMachinery2022-05-3101160523core:Vehicles2022-05-3101160523core:FurnitureFittings2022-05-3101160523core:OfficeEquipment2022-05-3101160523core:AfterOneYear2022-05-3101160523core:WithinOneYear2022-05-3101160523core:ListedExch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PLUMBING AND HEATING COMPANY (NORWICH) LIMITED

Registered Number
01160523
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2023

PLUMBING AND HEATING COMPANY (NORWICH) LIMITED
Company Information
for the year from 1 June 2022 to 31 May 2023

Directors

GAMBLE, Lee Christian
WHITING, Ray Stephen
WHITING, Stephen Reginald

Company Secretary

GAMBLE, Gillian Mary

Registered Address

Oak Lodge
North Walsham Road
Sprowston
NR6 7JG

Registered Number

01160523 (England and Wales)
PLUMBING AND HEATING COMPANY (NORWICH) LIMITED
Balance Sheet as at
31 May 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3322,693223,156
Investment property4165,000165,000
487,693388,156
Current assets
Stocks586,85098,278
Debtors260,30399,127
Cash at bank and on hand177,877127,315
525,030324,720
Creditors amounts falling due within one year6(374,981)(238,278)
Net current assets (liabilities)150,04986,442
Total assets less current liabilities637,742474,598
Provisions for liabilities8(61,312)(42,335)
Net assets576,430432,263
Capital and reserves
Called up share capital46,00046,000
Revaluation reserve31,77931,779
Profit and loss account498,651354,484
Shareholders' funds576,430432,263
The financial statements were approved and authorised for issue by the Board of Directors on 20 February 2024, and are signed on its behalf by:
WHITING, Stephen Reginald
Director
Registered Company No. 01160523
PLUMBING AND HEATING COMPANY (NORWICH) LIMITED
Notes to the Financial Statements
for the year ended 31 May 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Land and buildings50
Plant and machinery5
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20232022
Average number of employees during the year1212
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 June 22145,9641,730,49394,9653,5191,974,941
Additions-77,296118,687685196,668
At 31 May 23145,9641,807,789213,6524,2042,171,609
Depreciation and impairment
At 01 June 22145,9631,602,0193,0997041,751,785
Charge for year-45,95150,48070097,131
At 31 May 23145,9631,647,97053,5791,4041,848,916
Net book value
At 31 May 231159,819160,0732,800322,693
At 31 May 221128,47491,8662,815223,156
4.Investment property
The original cost of the property was valued on an open market basis on 31 May 2017 by Arnold Keys. The original cost of the investment property was £125,767.

£
Fair value at 01 June 22165,000
At 31 May 23165,000
5.Stocks

2023

2022

££
Other stocks86,85098,278
Total86,85098,278
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables184,49591,459
Amounts owed to related parties141,164132,471
Taxation and social security43,14113,009
Finance lease and HP contracts4,027-
Other creditors2,1541,339
Total374,981238,278
7.Creditors: amounts due after one year
8.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)61,31242,335
Total61,31242,335